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Home My WebLink AboutContract 43053 CITY SECRETARY 3 0�_ CONTRACT NO. MEMORANDUM OF OIL AND GAS LEASE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF TARRANT § BE IT REMEMBERED that on the_rday of *N&W 2012, a Paid Up Oil and Gas Lease was made and entered into by and between the CITYF FORT WORTH, a home rule municipal corporation of the State of Texas, 1000 ThrockmortJ Street, Fort Worth, Texas 76102, hereinafter called"(LESSOR)"; and VANTAGE FORT WORTH ENERGY,LLC, 777 Main Street, Suite 790, Fort Worth, Texas 76102, hereinafter called("LESSEE"), where LESSOR hereby grants, leases and lets exclusively to LESSEE for the purpose of exploring for,developing,producing and marketing oil and gas,together with any liquid or gaseous substances produced in association therewith, from the following described land situated in Tarrant County,Texas,to-wit: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF Subject to the other provisions therein contained, said lease provides for a primary term of two (2)years,from the date thereof,and as long thereafter as oil or gas or other substances covered therein are produced in paying quantities from the leased premises or from lands pooled therewith, or this lease is otherwise maintained in effect pursuant to the provisions therein. An Executed copy of said Oil and Gas Lease is in the possession of LESSEE at its address indicated above. Executed this the day of WA69W ,2012. LESSOR: UESSEE: CITY OF FORT WORTH VANTAGE FORT WORTH ENERGY,LLC a Delaware ' ited Liability Company By: Fernando Costa By: Cr." Osborne ,a4�.at�tLA Title: Assistant City Manager p o� 0111. Attorney in Fact Opp°Opo ATTEST: _.�D p, p0 0�®�� pj h0 a�d .am p01 o. 0 0 qty Secr a 0� % 0*id �aa °°�00000 APPROVED AS TO FORM AND LA9M.oa Contract Authorizatior► By: V&y'v11,,'VN [(-1, --O-9 _ -- - -- - Assistant-City Attorney as Date: OFFICIAL RECORD o91TT PFRETARY FT. WOff%I Fly ii i I N ACKNOWLEDGEMENTS THE STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME,the undersigned, a Notary Public,on this day personally appeared Fernando Costa, Assistant City Manager of the City of Fort Worth, a home-rule municipal corporation of the State of Texas, known to me to be the person whose name is subscribed to the foregoing instrument and, that he has executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this Apday of 2012. [SEAL Notary Public in and for the State of Texas ' EVOMADAN IELS€*i :* MY COMMIS510N EXPIRES ••...•,�s Duty 10,2013 My Commission Expires: —60-1 Print Name of Notary Public Here THE STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned, a Notary Public, on this day personally appeared C. Barry Osborne, Attorney in Fact of Vantage Fort Worth Energy, LLC, a Delaware Limited Liability Company of the State of Texas, known to me to be the person whose name is subscribed to the foregoing instrument and, that he has executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 4��day of u', 2012. [SE ;�__'"otary Public in and for the ,7 State of Texas ��prPu ROBERT A ROUX My Comissi Expires: S l0 4G/'5-- NOTARY PUBLIC y STATE OF TEXAS Print Name of Notary Publi OF MY COMM.EXP.5-18-2015 ffi L RECORDCRETARYRTH,TX EXHIBIT A 0.775 acres of land, more or less, being parts of the D. Dunlaney Survey A-411 Tarrant County, Texas. Tract 1: 0.165 acres, more or less, being the East 40 feet of the East 50 feet of Lot 8, Block 12, Walter Willi Addition, Third Filing, an addition to the City of Fort Worth, Tarrant County, Texas according to plat recorded in Vol. 1686,Page 371,Deed Records,Tarrant County,Texas. Tract 2: 0.115 acres, more or less, being a portion of Lot 6, Block 13, Walter Willi Addition to the City of Fort Worth, Tarrant County, Texas, and being more particularly described in that certain deed from Willie and Corine Crenshaw, as Grantor,to the City of Fort Worth, as Grantee,recorded at Volume 4611, Page 464 of the Deed Records,Tarrant County,Texas. Tract 3: 0.151 acres, more or less, being Lot 8-A, Block 10, being a Revision of Lot 8, Block 10, Lizzie Davis Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded in Vol. 388-15,page 211, of the Deed records of Tarrant County, Texas. Tract 4: 0.344 acres, more or less, being, Lots 6 and 19, Woods Addition to the City of Fort Worth, Tarrant County, Texas, a revision of Tract 6, Willie Subdivision of a part of the D. Dunlaney Survey, in Tarrant County,Texas, according to plat recorded in Vol. 388-Z, Page 19, of the Deed Records of Tarrant County,Texas. (DILLARD CHANNEL) M&C Review Page 1 of 2 Offidal site of the City of Fort Worth,Texas CITY COUNCIL AGENDA FbirrAtiRm `1' COUNCIL ACTION: Approved As Amended on 11/17/2009-Amendment Is Highlighted In Yellow DATE: 11/17/2009 REFERENCE NO.: L-14889 LOG NAME. DMIN LEA LEASSESES CODE: L TYPE: NON-CONSENT PUBLIC NO HEARING: SUBJECT: Authorize Administrative Approval and Execution of Leases for Natural Gas Drilling Under City-Owned Properties of Five Acres or Less in Size RECOMMENDATION: It is recommended that the City Council authorize the City Manager to approve and execute leases for natural gas drilling under City-owned properties that are five acres or less in size. DISCUSSION: On January 18, 2007, (M&C G-15588) Fort Worth City Council authorized the City Manager to approve and execute leases for natural gas drilling under City-owned non-park properties that are two acres or less in size. From time to time, the City is asked to lease isolated City-owned properties in various locations that are five acres or less. City staff is recommending that gas leases for these properties be administratively approved for natural gas drilling leases after evaluation of the gas company's drilling plan, reputation, financial status, project team and compliance history by staff and the City's mineral asset management consultant, Midkiff Oil and Gas. The leases would be executed through an internal administrative process involving the Planning and Development Department, the City Attorney's Office and the City Manager's Office. The purpose of this change is to allow staff to negotiate and expedite processing of small leases in order to ensure that the City is not excluded from units due to the time necessary for City Council review. Requirements and guidelines to be followed in determining eligibility for inclusion in the Administrative Gas Lease Process are as follows: City-owned property five acres or less; No surface use of any kind; No Identified adverse impact to the surrounding neighborhood; Compliance with the City's gas drilling ordinance; Minimum bonus to be determined by current market rate; Minimum royalty of 25 percent; The distribution of lease bonus and royalties will be In accordance with the revenue distribution policy approved by the City Council; and No M/WBE goal will be required due to the size of the parcels. The lease will be presented to City Council for consideration prior to execution for any City owned dediested-perk properties under five acres if opposition to conversion is expressed by citizens in the affected neighborhood or a Council Member requests such consideration. http://apps.cfwnet.org/council_packet/mc—review.asp?ID=1 2668&councildate=I 1/17/2009 9/14/2012 M&C Review Page 2 of 2 FISCAL INFORMATION/CERTIFICATION: The Financial Management Services Director certifies that this action will have no material effect on City funds. TO Fund/Account/Centers FROM Fund/Account/Conters Submitted for City Managees Office by; Fernando Costa(6122) Originating Department Head: Susan Alanis(8180) Additional Information Contact: Jean Petr(8367) ATTACHMENTS http://apps.cfwnet.org/council_packet/mc—review.asp?ID=I 2668&councildate=11/17/2009 9/14/2012